Cash Flows from Operating ActivitiesIndirect Method

Staley Inc. reported the following data:

Net income	$351,500
Depreciation expense	66,600
Loss on disposal of equipment	27,400
Increase in accounts receivable	18,200
Increase in accounts payable	10,100

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Staley Inc.
Statement of Cash Flows (partial)
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation
Loss on disposal of equipment
Changes in current operating assets and liabilities:
Increase in accounts receivable
Increase in accounts payable
Net cash flow from operating activities